first direct lowers loan rates | Product News - Moneyfacts

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first direct lowers loan rates

first direct lowers loan rates

Category: Loans
Date: 11/07/2014

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

first direct has reduced the cost of borrowing on selected loan amounts for new and existing customers, in some cases by as much as 1.2% APR.

The basics…

Customers looking to borrow between £5,000 and £6,950 can get a rate of 6.1% APR (a 1.2% reduction) while loans between £7,000 and £25,000 come with a rate of just 4.0% APR.

The finer details…

Example repayments: £5,000 over three years = £151.98

These rates are only available to customers who have a first direct current account (one can be opened on application), and borrowers should remember that rates are representative and dependent on individual credit ratings. Minimum income and age restrictions apply.

Why we like it…

This loan is particularly competitive at amounts of £7,500+ but holds it own at lower borrowing levels too, making it a cost-effective choice across several tiers.

Four Moneyfacts Stars have been awarded.

What next?

Use our loan calculator.

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 
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